Why would FIRB reject the underwriting agreement as reported and reject the possible increase in holdings to 40%? FIRB has already set a precedent with MMX and AED to allow overseas investors increase to 40 & 49% so see no problem with the MGX deal. The interesting fact today is that 10% of the issued capital changed hands today so whilst I do believe that the average punter has no interest in participating in the upcoming share placement I believe that there was a large accumulator today that has other ideas. Watch this one over the next few days and if the price does trade higher on unusually high volume I would suggest that the accumulation is strategic with the ultimate aim of securing additional shares in the upcoming placement.
Why would FIRB reject the underwriting agreement as reported and...
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Last
36.5¢ |
Change
-0.005(1.35%) |
Mkt cap ! $444.6M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.0¢ | 36.3¢ | $213.5K | 583.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 180887 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 199960 | 34 |
View Market Depth
| Last trade - 13.20pm 25/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |